Learn How Fourth HR + Payroll Can Help You

 

Your Recovery Strategies in the Post-COVID Era

As the recovery process gets underway, you need to keep a tight rein on expenses. Even with lingering uncertainty in our new hospitality and retail landscape, there’s a light at the end of the tunnel.

 

Restaurant sales are expected to grow .2% to $.5 billion in 2021. (NRA)

Retail sales are expected to grow between .5% to .2% or $.3 to $.4 trillion in 2021. (NRA)

Opportunity is arriving and now is the time to stay focused on two main concerns during the pandemic recovery period: financial stability and business growth.

How Are You Establishing Financial Stability?

An opportunity has arisen for many businesses to consider – outsourcing HR functions. According to Deloitte, an organization can reduce operating expenses by 25-60% by outsourcing non-core functions. Companies that outsource administrative functions reinvest those savings in strategic growth projects and concentrate on revenue recovery.

Fully outsourcing to a PEO or a few non-core responsibilities to an HRO can ensure compliance with evolving regulations while protecting the business from costly penalties, fees, or lawsuits.

Are Your Employees Looking for a New Job?

An employee lost is not easy to replace in 2021. Your employee retention percentage is directly related to the productivity and growth of your business. Few things frustrate employees more than inaccurate paychecks, arduous HR processes and lackluster benefits packages.

Offering competitive, affordable benefits can help reduce employee churn. HR outsourcing companies use the benefit of greater economies of scale to offer you high-quality benefits packages that only much larger organizations could afford. Such packages make your business more competitive with your current employees and prospective hires.

Find Your Key Recovery Advantage

Outsourcing core business functions like HR and Payroll can be a key recovery advantage, allowing you to focus on your customers while Fourth focuses on your business. Through a combination of hospitality and retail services and software, Fourth reduces the administrative burden, risks, and costs that come with managing HR and payroll in-house so you can spend more time building a successful business.

Businesses Taking Advantage of HR + Payroll Outsourcing:

Grow 7%-9% Faster.

Enjoy an Annual Cost Savings of $1,775 per Year per Employee.

Are 50% Less Likely to Go out of Business.

Have 10%-14% Lower Turnover.

Connect With a Fourth Expert

Connect with a Fourth expert to learn more how outsourcing can help you.